Asking Rents Fall in New York City

Thu, 2009-05-07 17:50

REBNY just published its spring report on New York City's retail real estate market. You can view the document below. Asking rents are down 11 percent from fall 2008.

Each of the borough's six geographic areas showed a decline in the average asking rent for all available space, ranging from 6 percent in Midtown to 22 percent on the West Side compared to six months earlier. Double digit declines in the average asking rent for all available space were reported on the East Side (12 percent), Midtown South (14 percent), Downtown and Upper Manhattan (13 percent).